Communiqué de presse

Seasoned financier Sylvie Chagnon
to work closely to reform the management of the Green Fund

Québec City, February 25, 2016
– The Minister of Sustainable Development, Environment and the Fight against
Climate Change, Heurtel David, today announced the arrival of Sylvie Chagnon,
an independent financial expert, to support the in-depth reform of the Green
Fund. In that capacity, Ms. Chagnon will assist the Minister and the
Deputy Minister, Christyne Tremblay, in developing the parameters, legislative
framework and implementation of a management board, as announced by the government
on February 5. Until a new governance structure is implemented following
the tabling of a draft law and its review by the National Assembly, Ms. Chagnon
will be mandated to work with the Department’s authorities to coordinate the
development of an action plan to enhance the Green Fund’s management immediately.

The plan, to be carried out in collaboration with all departments and
agencies concerned, will include measures related to:

administrative monitoring of activities financed
by the Green Fund to improve financial data accountability and program
performance;

strengthening normative frameworks, management
information and monitoring projects to optimize the overall management of
activities related to the Green Fund.

“Ms. Chagnon is a recognized figure in the financial community,
especially when it comes to investment fund management. She has the expertise
and knowledge required to assist us in carrying out the important mandate to
reform the Green Fund’s management. I have assured her of my full collaboration,
as well as that of the Ministère du Développement durable, de l’Environnement
et de la Lutte contre les changements climatiques, in executing her mandate,”
said Minister Heurtel.

With over 25 years of experience in the public and private sectors,
Ms. Chagnon has acquired extensive expertise in strategic planning,
project management, process optimization, risk management and governance. She
has held a broad range of senior management positions at such major financial
institutions as the Bank of Montreal, Canadian Imperial Bank of Commerce and
National Bank of Canada. Until recently, Ms. Chagnon was Vice President, Credit
and Financial Products, at Investissement Québec, where she managed a portfolio
of 8.8 billion dollars.

Dubbed the “Olympian of finance” by the weekly newspaper Les Affaires, Ms. Chagnon has
gained the recognition of the Association des femmes en finance du Québec, the
magazine Premières en affaires and
the Réseau des femmes d'affaires du Québec, as well as the Collège des
administrateurs de sociétés (CAS). She was recently appointed as an independent
member and chairwoman of the board of directors of La Financière agricole du
Québec.

“Since the Green Fund is an essential tool for Québec in its transition
to a low-carbon society, it must be managed according to best practices and
meet the highest accountability standards. In this way, we will move forward in
our efforts to guarantee a better quality of life for our children. Let’s do it
for them!,” concluded Minister Heurtel.